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Tires & Rubber Products

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Wheels manufacturer Zhejiang Jingu elects chairman

Friday, 23 Jun 2017 05:12am EDT

June 23 (Reuters) - Zhejiang Jingu Co Ltd <002488.SZ>:Says board elects Sun Fengfeng as chairman.

Michelin unveils global reorganization project

Thursday, 22 Jun 2017 08:20am EDT

June 22 (Reuters) - Michelin statement::Michelin group presents its global reorganization project to better serve its customer.Says reorganisation to impact jobs mostly in U.S., France.In U.S. the number of jobs would be reduced by approximately 450 in central functions between 2018 and 2021..By 2021, 5,000 employees would leave the group in France, the majority due to retirement, and around 2,000 of these would be in Clermont-Ferrand..To finance this project, Michelin group would record a provision in non-recurring charges in company's consolidated accounts at december 31, 2017..

Michelin opens simplified public offer to acquire SIPH

Wednesday, 21 Jun 2017 06:45am EDT

June 21 (Reuters) - MICHELIN ::REG-MICHELIN : MICHELIN OPENS A FRIENDLY SIMPLIFIED PUBLIC OFFER FROM JUNE 22, 2017 TO JULY 12, 2017 TO ACQUIRE SIPH <<>>.TO ACQUIRE OUTSTANDING SHARES OF SIPH AT A PRICE OF EUR 85 PER SHARE.‍PROPOSED OFFER PRICE WOULD GIVE RISE TO A 41.8% PREMIUM ON LAST CLOSING SIPH SHARE PRICE PRIOR TO FILING DATE​.FOLLOWING PUBLIC OFFER, AND IF REQUISITE CONDITIONS ARE MET, CFM WILL REQUEST A SQUEEZE-OUT OF ANY REMAINING MINORITY SHAREHOLDERS OF SIPH.‍PROPOSED OFFER PRICE IMPLIES PREMIUM OF 49.6% AND 57.8% VERSUS VOLUME WEIGHTED AVERAGE SIPH SHARE PRICE OVER PREVIOUS 60 AND 250 TRADING DAYS​.ODDO & CIE ACTS AS PRESENTING AND GUARANTEEING BANK OF SIMPLIFIED PUBLIC OFFER.

Siph says Michelin initiates simplified public offer

Wednesday, 21 Jun 2017 02:30am EDT

June 21 (Reuters) - SIPH SA :ANNOUNCES SIMPLIFIED PUBLIC OFFER INITIATED BY LA COMPAGNIE FINANCIÈRE MICHELIN SCMA‍​‍​.OFFER PRICE OF SIMPLIFIED TENDER OFFER AT EUR 85 PER 1 SIPH SHARE.

Siph says Michelin initiates simplified public offer

Wednesday, 21 Jun 2017 02:30am EDT

June 21 (Reuters) - SIPH SA :ANNOUNCES SIMPLIFIED PUBLIC OFFER INITIATED BY LA COMPAGNIE FINANCIÈRE MICHELIN SCMA‍​‍​.OFFER PRICE OF SIMPLIFIED TENDER OFFER AT EUR 85 PER 1 SIPH SHARE.

Goodway Integrated Industries clarifies on article

Friday, 16 Jun 2017 07:01am EDT

June 16 (Reuters) - Goodway Integrated Industries Bhd :Clarifies on article published by edge financial daily.clarifies co did not announce in april regarding "establishing an investigation committee to probe alleged irregularities".audit report for fy2016 stated management had not performed impairment test on carrying amount of plant & equipment of rm34 million, inventories of rm11.4 million.Goodway integrated industries -management engaged independent professional firm to carry out impairment test only &this is expected to complete by end of aug.

Anhui Zhongding Sealing Parts to buy 8.5 pct stake in Shanghai-based financial service firm for 51 mln yuan

Friday, 16 Jun 2017 02:06am EDT

June 16(Reuters) - Anhui Zhongding Sealing Parts Co Ltd <000887.SZ> ::* Says it will buy 8.5 percent stake in Shanghai-based financial service firm for 51 million yuan .

Jiangyin Haida Rubber and Plastic to acquire stake in Ningbo aluminium firm for 329.3 mln yuan

Thursday, 15 Jun 2017 08:51am EDT

June 15 (Reuters) - Jiangyin Haida Rubber And Plastic <300320.SZ>:Says it plans to acquire 95.3 percent stake in Ningbo aluminium producer for about 329.3 million yuan ($48.41 million) via cash, share issue.Says it plans to raise up to 222 million yuan in share private placement.

Greatoo Intelligent Equipment says dividend payment date on June 23

Wednesday, 14 Jun 2017 11:00pm EDT

June 15(Reuters) - Greatoo Intelligent Equipment Inc <002031.SZ>:Says it will pay cash dividend of 0.05 yuan per 10 shares (before tax) for FY 2016 to shareholders of record on June 22.The company's shares will be traded ex-right and ex-dividend on June 23 and the dividend will be paid on June 23.

Michelin to acquire Nextraq, a telematics provider, from Fleetcor

Wednesday, 14 Jun 2017 02:28am EDT

June 14 (Reuters) - Michelin /Fleetcor ::* Michelin announced that it has agreed to acquire FleetCor's business NexTraq, a U.S. provider of commercial fleet telematics, in an all-cash transaction.* NexTraq has 117 employees, approximately 7,000 fleet customers and 116,000 individual subscribers.* "NexTraq represents a strategic acquisition that accelerates our growth in telematics with synergies that increase our scale, expand our geographic footprint and strengthen overall competitiveness in fleet management technology and services in the United States," said Ralph Dimenna, chief operating officer for Michelin Americas Truck Tires, in a statement.

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